There are many things you are probably supposed to be doing right now. You may even have a to-do list. And every one of those things seems really important. Before you do any of them, lets talk about preparing for your financial future.

Early Career (20s)

  • Create and follow a budget
  • Monitor and increase credit score
  • Save 3-6 months of current expenses in a liquid account for emergencies
  • Start contributing to a 401(k) or IRA – Start now! Start small. At least max out company match if available. Contribute more if other goals are met or in progress.
  • Pay off consumer debt: credit cards, school loans and car
  • Save for other financial goals (house, starting a business, etc.)

Starting a Family (30’s)

  • After getting married
    • Consider term life insurance to replace income (risk management)
    • Update beneficiaries
    • Consider disability insurance
    • Create a will
  • Increase contributions to your Roth/Trad IRA/401(k) (Max out)
  • Once settled, consider buying a home (20% down, fixed rate, 15-30 year mortgage)
  • Buy an umbrella insurance policy
  • After having kids
    • Increase life insurance amount
    • Estate Plan: create a trust
    • Start a college/education account for each child (if your other financial goals are met)
  • Contribute to an investment account

Established Career (40’s-50’s)

  • Set your retirement goals: timeframe, income needs
  • Establish multiple sources of income (business, rental property, pension, royalties, etc.)
  • Consider LTC Insurance
  • Consider getting ahead on your mortgage (if long-term residence)

Nearing Retirement (60’s)

  • Calculate your retirement budget
  • Determine your income sources at retirement (Social Security, pension, rental property, etc.)

At Retirement (65-70)

  • Consider rolling over your 401(k) into an IRA
  • Plan Long Term Care options
  • Talk to children about estate, legacy plan and money management

Golden Years (70’s-80’s)

  • Travel and Enjoy Family
  • Plan retirement withdrawals
  • Make end of life wishes known

Begin Your Journey to Financial Freedom

Our mission is to provide complete, effectual and objective financial advice, while assisting our clients in working towards their personal goals and dreams. Since we place our client’s goals, needs and objectives first, every person is sure to have a personal plan which is individually designed to accommodate each client’s situation. Our team members strive to provide our clientele with exceptional service as we proactively- not reactively – manage all client relationships. When working with our clients, we enable them to spend less time on finances and more time creating meaningful experiences throughout their daily lives. In the end, our greatest achievement is helping our clients pursuing their individual goals and dreams.

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